Group 1: Financial Performance - The company reported a revenue of 1.265 billion and a net profit attributable to shareholders of 144 million for the first half of 2025, indicating strong financial performance [1] - Operating cash flow net amount increased by 191.72% compared to the same period last year, reflecting improved profitability and operational efficiency [1] Group 2: Management Changes - The company underwent significant changes in its shareholding structure and management, with the Heilongjiang Provincial State-owned Assets Supervision and Administration Commission becoming the new actual controller on January 10 [1] - In July, the company held its first extraordinary general meeting for 2025, electing Wang Lifeng as the new chairman and legal representative, marking a new development phase for the company [1] Group 3: Innovation in Drug Development - The company is advancing multiple innovative drug projects, notably YB209, a novel anticoagulant with high efficacy and low bleeding risk, which has completed Phase I clinical trials [2] - Another project, YB211, targeting drug-resistant bacterial infections, has entered Phase II clinical trials after completing necessary preclinical studies [2] Group 4: Stem Cell Research Progress - The company, through its subsidiary Beijing Meike, has made significant strides in stem cell treatments for ischemic stroke and autoimmune pulmonary alveolar proteinosis, completing patient enrollment for Phase IIa trials [3] - The company received approval for clinical trials of bone marrow mesenchymal stem cell injections for autism, expanding its application of stem cell technology [3] Group 5: Traditional Chinese Medicine Development - The company is actively responding to national calls for innovation in traditional Chinese medicine, increasing efforts in developing new Chinese patent medicines and conducting real-world studies on existing products [4] - The development of classic Chinese medicine formulas YB106 and YB107 is progressing as planned, with significant results from real-world studies on Xuexutong injection [4] - The company aims to transition from a traditional Chinese medicine manufacturer to a modern biopharmaceutical solution provider, supported by the new actual controller [4]

Core Viewpoint - The company, JiuZhiTang Co., Ltd., reported a significant decline in both revenue and net profit for the first half of 2025, attributed to external market conditions and internal reforms [6]. Financial Performance - The company's operating revenue for the reporting period was CNY 1,264,512,369.54, representing a decrease of 24.71% compared to the same period last year [6]. - The net profit attributable to shareholders was CNY 143,773,631.42, down 29.71% year-on-year [6]. - The net cash flow from operating activities showed a significant improvement, reaching CNY 213,061,017.36, an increase of 191.72% compared to a negative cash flow of CNY -232,303,029.43 in the previous year [6]. - Basic and diluted earnings per share were both CNY 0.1699, reflecting a decrease of 29.18% from CNY 0.2399 in the prior year [6]. Asset and Equity Position - Total assets at the end of the reporting period were CNY 5,025,993,962.59, a decrease of 3.56% from CNY 5,211,440,858.19 at the end of the previous year [2]. - The net assets attributable to shareholders were CNY 3,643,101,446.80, down 2.93% from CNY 3,753,212,418.98 [2]. - The weighted average return on equity was 3.84%, a decline of 1.31% from 5.15% in the previous year [2]. Shareholder Structure - The largest shareholder, Heilongjiang Cheneng Industrial Investment Co., Ltd., holds 24.04% of the shares, while the second-largest shareholder, Li Zhenguo, holds 18.91% [2]. - The company underwent a change in control, with Heilongjiang Cheneng becoming the controlling shareholder after acquiring shares from Li Zhenguo [5][6].

Core Viewpoint - The report highlights a significant decline in revenue and net profit for Jiuzhitang Co., Ltd. during the first half of 2025, attributed to decreased sales of certain products, while emphasizing the ongoing challenges and opportunities within the pharmaceutical industry [1][3][10]. Company Overview and Financial Indicators - Jiuzhitang Co., Ltd. reported a total revenue of approximately 1.26 billion yuan, a decrease of 24.71% compared to the same period last year [4][20]. - The net profit attributable to shareholders was approximately 143.77 million yuan, down 29.71% year-on-year [4][20]. - The company plans not to distribute cash dividends or issue bonus shares [1]. Industry Analysis - The pharmaceutical industry is characterized as a sunrise industry with vast market potential, driven by an aging population and increasing health awareness among consumers [3][4]. - However, the industry faces challenges such as price reductions due to centralized procurement and rising production costs from raw material price increases [4][5]. - The government has introduced supportive policies for traditional Chinese medicine, which is expected to boost the industry’s growth [5][6]. Business Operations - Jiuzhitang has evolved from its origins in 1650 to a modern pharmaceutical enterprise with 23 subsidiaries, focusing on traditional Chinese medicine, stem cell research, and health products [6][7]. - The company holds 418 drug registration approvals, including 35 exclusive varieties, covering various therapeutic areas [7][8]. Product Performance - The company’s main product categories include OTC products, prescription drugs, and health products, with OTC sales declining by 36.05% and prescription drug sales decreasing by 10.67% [20]. - The company’s flagship products include traditional Chinese medicine formulations such as Liuwei Dihuang Wan and donkey-hide gelatin products, which are well-regarded in the market [8][10]. Research and Development - Jiuzhitang's R&D efforts focus on innovative therapies, including gene and cell therapies, with ongoing clinical trials for several projects [14][15]. - The company is also enhancing its product quality and expanding its product line to meet market demands [16][19]. Marketing and Sales Strategy - The company is optimizing its marketing strategies by integrating online and offline sales channels and enhancing its sales network [9][11]. - Jiuzhitang emphasizes a customer-centric approach, aiming to improve its market presence and sales capabilities [9][10].

公告文件 证券代码：000989 证券简称：九芝堂 公告编号：2025-059 九芝堂股份有限公司 第九届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈 述或重大遗漏。 一、董事会会议召开情况 九芝堂股份有限公司第九届董事会第九次会议通知于 2025 年 8 月 8 日以电 子邮件方式发出，会议于 2025 年 8 月 19 日在公司管理中心第一会议室以现场方 式召开。会议应出席董事 9 名，实际出席董事 9 名。会议由董事长王立峰先生主 持，公司监事、高级管理人员列席本次会议。本次董事会会议的召开符合有关法 律、行政法规、部门规章、规范性文件和公司章程的规定。 二、董事会会议审议情况 在公司董事充分理解会议议案并表达意见后，本次会议一致审议通过了以下 议案： 本议案已经公司第九届董事会审计委员会第八次会议审议通过。半年度报告 全文请参看公告在巨潮资讯网的《九芝堂股份有限公司 2025 年半年度报告》（公 告编号：2025-057） 根据《中华人民共和国公司法》《关于新 <公司法> 配套制度规则实施相关过 渡期安排》 ，摘要请参看公告在《中国证券报》 ...

证券代码：000989 证券简称：九芝堂 公告编号：2025-061 公告文件 九芝堂股份有限公司 关于召开 2025 年第二次临时股东大会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈 述或重大遗漏。 一、召开会议基本情况 本次股东大会召集、召开的程序符合有关法律、行政法规、部门规章、规范 性文件和公司章程的规定。 （1）现场会议召开时间：2025 年 9 月 10 日（星期三）下午 14:30 （2）网络投票时间： 通过深圳证券交易所（以下简称"深交所"）交易系统进行网络投票的具体时 间为 2025 年 9 月 10 日上午 9:15—9:25，9:30—11:30，下午 13:00—15:00； 通过深交所互联网投票系统投票的具体时间为：2025 年 9 月 10 日上午 9:15 至下午 15:00 的任意时间。 （1）凡在股权登记日 15:00 收市时在中国证券登记结算有限责任公司深圳 分公司登记在册的公司全体股东均有权出席股东大会，并可以以书面形式委托代 理人出席会议和参加表决，该股东代理人不必是本公司股东； （2）本公司董事、监事、高级管理人员； （3） ...

公司章程 九芝堂股份有限公司章程 （2025 年修订草案） （1999 年 11 月 8 日第 1 次临时股东大会会议通过； 公司章程 目 录 公司章程 第一章 总则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织 和行为，根据《中华人民共和国公司法》(以下简称《公司法》)、《中华人民共 和国证券法》(以下简称《证券法》)、《中国共产党章程》（以下简称《党章》） 和其他有关规定，制定本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司(以 下简称"公司")。 公司经湖南省人民政府批准，以发起方式设立；在湖南省市场监督管理局注 册登记，取得营业执照，统一社会信用代码：91430000712191079B。 第三条 公司于 2000 年 6 月 9 日经中国证券监督管理委员会(以下简称中 国证监会)批准，首次向社会公众发行人民币普通股 4000 万股，于 2000 年 6 月 日，公司向社会公众增发人民币普通股 5100.2218 万股，并于 2003 年 8 月 8 日 在深圳证券交易所上市。 第四条 公司注册名称：九芝堂股份有限公司。 英文名称：JIUZHITANG CO. ...

Financial Overview - The total revenue for the first half of 2025 is CNY 1,264,512,369.54, a decrease from CNY 1,679,430,180.36 in the same period of 2024, representing a decline of approximately 24.7% [5] - The total operating costs for the first half of 2025 amount to CNY 1,099,775,216.97, down from CNY 1,488,288,264.61 in 2024, indicating a reduction of about 26.1% [5] - The net profit for the first half of 2025 is CNY 153,521,724.04, compared to CNY 204,088,697.72 in 2024, reflecting a decrease of approximately 24.8% [5][6] Assets and Liabilities - Total assets at the end of the first half of 2025 are CNY 5,025,993,962.59, down from CNY 5,211,440,858.19 at the beginning of the year [2][3] - Total liabilities decreased to CNY 1,178,361,326.43 from CNY 1,263,509,520.45, showing a reduction of about 6.7% [3][4] - Total equity stands at CNY 3,847,632,636.16, down from CNY 3,947,931,337.74, indicating a decrease of approximately 2.5% [3][4] Cash Flow - The net cash flow from operating activities for the first half of 2025 is CNY 213,061,017.36, a significant improvement compared to a negative cash flow of CNY -232,303,029.43 in the same period of 2024 [7] - Cash flow from investing activities shows a net outflow of CNY -282,971,008.20, compared to a net inflow of CNY 31,953,340.29 in 2024 [7] - Cash flow from financing activities resulted in a net outflow of CNY -229,507,233.21, compared to a net outflow of CNY -125,322,678.53 in the previous year [9] Earnings Per Share - Basic and diluted earnings per share for the first half of 2025 are both CNY 0.1699, down from CNY 0.2399 in the same period of 2024 [6][7]

证券代码：000989 证券简称：九芝堂 公告编号：2025-060 主管会计工作的负责人： 周鲁宝 会计机构负责人：周鲁 宝 法定代表人：王立峰 ...

Core Points - The document outlines the rules for the shareholders' meeting of JiuZhiTang Co., Ltd, ensuring compliance with relevant laws and regulations [2][3][25] - The rules specify the procedures for convening, proposing, notifying, and conducting shareholders' meetings [2][5][11] Group 1: General Provisions - The rules are established to regulate the behavior of JiuZhiTang Co., Ltd and ensure shareholders can exercise their rights legally [2] - The company must strictly follow laws, regulations, and its articles of association when convening shareholders' meetings [3][4] Group 2: Convening Shareholders' Meetings - Shareholders' meetings can be annual or temporary, with annual meetings held within six months after the end of the previous fiscal year [5] - Temporary meetings must be convened within two months under specific circumstances, such as insufficient board members or significant losses [5][6] Group 3: Proposals and Notifications - Shareholders holding more than 1% of shares can propose temporary proposals ten days before the meeting [9] - Notifications for annual meetings must be sent at least twenty days in advance, while temporary meetings require a fifteen-day notice [16][19] Group 4: Conducting Shareholders' Meetings - Meetings should be held at the company's registered location, and provisions must be made for remote participation [11][12] - The meeting must be presided over by the chairman or a designated representative, ensuring order and addressing shareholder inquiries [28][30] Group 5: Voting and Resolutions - Voting can be conducted in person or through remote means, with each share carrying one vote [24][26] - Resolutions require a simple majority for ordinary decisions and a two-thirds majority for special resolutions [44][46] Group 6: Record Keeping and Compliance - Meeting records must include details such as time, location, attendees, and voting results, and must be preserved for at least ten years [42][43] - The rules are subject to interpretation by the board and must comply with national laws and regulations [25][53]

公司营业总收入为12.65亿元，较去年同报告期营业总收入减少4.15亿元，同比较去年同期下降 24.71%。归母净利润为1.44亿元，较去年同报告期归母净利润减少6077.21万元，同比较去年同期下降 29.71%。经营活动现金净流入为2.13亿元，较去年同报告期经营活动现金净流入增加4.45亿元。 公司股东户数为5.05万户，前十大股东持股数量为4.38亿股，占总股本比例为51.19%，前十大股东持股 情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | | 黑龙江辰能工大创业投资有限公司 | 24.04% | | AWNH | 李振国 湖南益丰医药有限公司 | 18.91% 4.99% | | | 吕良幸 | 0.74% | | 5 | 兰建勋 | 0.65% | | 6 周晶 | | 0.63% | | 7 | 刘鹏俊 | 0.44% | | 8 | 陶永玲 | 0.28% | | 9 徐旭 | | 0.27% | | 10 | 基本养老保险基金一二零七组合 | 0.25% | 公司摊薄每股收益为0.17元，较去年同报告期摊薄每股收益减少0.07元，同比较去年 ...